As per the media report it has been learned from the information received from the Ministry of Commerce & Industry that in the first Joint Committee Meeting (JCM) under India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), both the sides while acknowledging the sooth implementation of the ECTA, briefly elaborated on ECTA implementation issues including MRAs on organic products, market access issues related to products like okra, pomegranate, grapes, cottage cheese, macadamia nuts, lentils and avocado, TRQ administration, pharmaceutical pricing control in Australia particularly on Generics, progress made by the working group on Whisky and Wine aiming to address regulatory challenges and promote trade of these products, outcomes of the ECTA sub-committee meetings and need for their regular meetings for timely resolution, areas of mutual interest including coastal tourism, critical mineral and collaboration for establishing Disease-Free Zones for shrimps and prawns in India. JCM also adopted the Rules of Procedure for the Joint Committee and established an institutional mechanism, first of its kind for FTAs, for regular exchange of preferential import data on monthly basis. It also briefly deliberated on integrated approach for the forthcoming CEO forum event for promoting investments, in particular on Start-ups.As per the reports the JCM meeting also addressed certain critical services issues, including the consideration of India’s request for facilitation of cross border e-payments and mutual recognition agreements in professions like nursing and dentistry. Furthermore, the commitment to remove the ENT/LMT requirement in line with the UK-Australia Free Trade Agreement was reiterated, alongside discussions focusing on facilitating the mobility of healthcare workers between the two nations, promoting tele-medicines.
Overall, the JCM reaffirmed the commitment of both India and Australia to foster a robust and mutually beneficial economic relationship, paving the way for enhanced cooperation and prosperity for both nations. This meetings revealed the extreme eagerness of the businesses and governments of both the sides to work hard and bring new synergy to take the strategic partnership to a new level, bringing in significant benefit to businesses and citizens.
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